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Texas Pacific Land cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$192M in Q3 2026 · $641M over twelve months

Operating cash flow$192M
Free cash flow+$192M
Cash / net income1.1×

Analysis

In Q3 2026, Texas Pacific Land generated $192M of operating cash flow. That is $37.8M more than in Q3 2025 ($155M).

Over the twelve months to Sep 30, 2026, operating cash flow was $641M; the largest uses were other investing ($505M), dividends ($161M), real estate bought ($123M); the cash balance fell by $162M.

Operating cash flow was $192M against net income of $167M — 1.1× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$22.8M, income taxes payable +$7.2M, stock-based pay +$4.2M.

Free cash flow

Texas Pacific Land: free cash flow by quarterTexas Pacific Land: free cash flow by quarter$127MQ4 2024$157MQ1 2025$121MQ2 2025$155MQ3 2025$114MQ4 2025$162MQ1 2026$173MQ2 2026$192MQ3 2026
Operating cash flow less capital spending.
Texas Pacific Land: operating cash flow against capital spendingTexas Pacific Land: operating cash flow against capital spendingOperating cash flowCapital spending$127M$0Q4 2024$157M$0Q1 2025$121M$0Q2 2025$155M$0Q3 2025$114M$0Q4 2025$162M$0Q1 2026$173M$0Q2 2026$192M$0Q3 2026
Latest (Q3 2026): Operating cash flow $192M, Capital spending $0.

Capital allocation, year by year

Texas Pacific Land: where the cash came from (up) and went (down), by fiscal yearTexas Pacific Land: where the cash came from (up) and went (down), by fiscal yearOperating cash flowAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $265MFY2021: Asset sales $1.1MFY2021: Capital spending −$16.4MFY2021: Buybacks −$19.7MFY2021: Dividends −$85.3M$266MFY2021FY2022: Operating cash flow $447MFY2022: Asset sales $106KFY2022: Capital spending −$19.0MFY2022: Buybacks −$87.8MFY2022: Dividends −$247M$447MFY2022FY2023: Operating cash flow $418MFY2023: Asset sales $5KFY2023: Buybacks −$42.6MFY2023: Dividends −$100M$418MFY2023FY2024: Operating cash flow $491MFY2024: Acquisitions −$45.0MFY2024: Buybacks −$29.2MFY2024: Dividends −$347M$491MFY2024FY2025: Operating cash flow $546MFY2025: Buybacks −$8.4MFY2025: Dividends −$148M$546MFY2025
Over these 5 years operating cash flow totalled $2.2B; the largest uses were dividends ($928M) and buybacks ($188M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$370M
Debtnone
Net cash$370M

Texas Pacific Land funds itself: free cash flow was $641M over the last twelve months, with $370M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Texas Pacific Land: sources (+) and uses (−) of cash, Q3 2026Texas Pacific Land: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$192MCash drawn (+) / kept (−)−$121MDividends−$41.4MOther investing−$17.5MReal estate bought−$12.6M
Texas Pacific Land: sources (+) and uses (−) of cash, TTM to Q3 2026Texas Pacific Land: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$641MOther investing−$505MCash drawn (+) / kept (−)$162MDividends−$161MReal estate bought−$123MTaxes on employees’ shares−$9.1MOther financing−$5.1M

From profit to cash

Texas Pacific Land: net income to operating cash flow, Q3 2026Texas Pacific Land: net income to operating cash flow, Q3 2026Net income$167MDepreciation & amortization$22.8MStock-based pay$4.2MPrepaid and other assets$164KOther liabilities$256KIncome taxes payable$7.2MOperating cash flow$192M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsCash drawn (+) / kept (−)Free cash flow
Q3 2026$192M—−$41.4M−$121M$192M
Q2 2026$173M—−$41.4M−$446K$173M
Q1 2026$162M—−$41.8M−$103M$162M
Q4 2025$114M—−$36.8M$386M$114M
Q3 2025$155M−$8.3M−$36.8M$12.1M$155M
Q2 2025$121M—−$36.8M−$80.1M$121M
Q1 2025$157M−$100K−$37.4M−$92.4M$157M
Q4 2024$127M−$6.4M−$36.8M$163M$127M

Texas Pacific Land: income statement and cash flow

Texas Pacific Land, Q3 2026: revenue $273M (+35% year over year), operating margin 76.0%. The chart follows the revenue to costs, profit and cash.

Texas Pacific Land: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.